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Question: The production relationship between the number of chapters that Tiffany studies in her history book (the variable input) and the number of points that she will earn on a history exam (the output) is as follows:
Input: number of
chapters studied 0 1 2 3
Output: test score 15 35 60 95
a. Using graph paper or a computer spreadsheet or presentation program, graph the total product curve for exam points. Label clearly.
b. What is the marginal return of the first chapter that Tiffany reads? And what is the marginal return of the third chapter that she reads?
c. How would you describe, in words, this pattern of returns?
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1. What lessons does Eclipse's failure have for entrepreneurs who are studying the industry or industries they are about to enter?
A fair coin is tossed 3 times.
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